Chanticleer Holdings Signs Lease for New Hooters Restaurant in Pretoria, South
CHARLOTTE, NC -- (Marketwired) -- 09/03/13 -- Chanticleer Holdings,
Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), a
minority holder in the privately held parent company of the Hooters
brand Hooters Of America, and a franchisee of international Hooters
restaurants, has secured a prime lease in Pretoria, South Africa.
This will bring the Company's total number of international Hooters
restaurants to eight in three countries, including the previously
announced Townsville, Australia location and this Pretoria location,
both expected to open before the end of 2013.
The new Hooters in Pretoria will be built in The Willows Shopping
Centre, in the eastern part of Pretoria. Gordon Jestin, Chanticleer's
Chief Operating Officer for Hooters, South Africa, stated, "This is a
busy, high-traffic area where its residents tend to live and shop
within a 5 mile radius of The Willows Shopping Centre, making this a
perfect location for a Hooters restaurant." Jestin continued, "This
strip centre affords our customers convenience and ample parking in a
busy traffic pattern with more than an estimated 4,000 cars passing
our site per day. We have executed a 5 year lease with a 5 year
option to renew for 7,700 square feet, including a brilliant outside
balcony space, with very favorable terms, including landlord-provided
upfits in the buildout. We are right in the middle of a number of
fast food restaurants and retail stores with the perfect demographics
for our Hooters." The restaurant is scheduled for opening by the end
of the year.
Mike Pruitt, Chairman and Chief Executive Officer, commented, "South
Africa, for many reasons, has been an outstanding market for our
Hooters brand. Our locations continue to grow, partly due to the
sports-loving nature of the South African people who can now watch
sporting activities on many of the largest High Definition TVs,
unique in the country, while enjoying our new menu items. That,
combined with the famous Hooters girls and vibrant atmosphere, makes
Hooters a destination restaurant." Pruitt said further, "We now have
Hooters restaurants in Europe, South Africa and Australia, and soon
to be in the United Kingdom and Brazil, demonstrating that our
American brand is becoming an integral part of leisure dining in
these international markets. The recently announced Letter of Intent
to acquire American Roadside Burgers, a 5 restaurant chain operating
primarily in the Carolinas, gives us a growth opportunity here at
home and abroad as well."
About Chanticleer Holdings, Inc.
Chanticleer Holdings (HOTR) is focused on expanding the HootersÂ®
casual dining restaurant brand in international emerging markets.
Chanticleer currently owns in whole or part of the exclusive
franchise rights to develop and operate Hooters restaurants in South
Africa, Hungary and parts of Brazil, and has joint ventured with the
current Hooters franchisee in Australia, while evaluating several
additional international opportunities. The Company currently owns
and operates in whole or part of six Hooters restaurants in its
international franchise territories: Durban, Johannesburg, Cape Town
and Emperor's Palace in South Africa; Campbelltown in Australia; and
Budapest in Hungary.
In 2011, Chanticleer and a group of noteworthy private equity
investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly
Hall, president of Texas Wings Inc., the largest Hooters franchisee
in the United States, acquired Hooters of America, a privately held
company. Today, Hooters of America is an operator and the franchisor
of over 430 HootersÂ® restaurants in 28 countries. Chanticleer
maintains a minority ownership stake in Hooters of America and its
CEO, Mike Pruitt, is also a member of Hooters' Board of Directors.
For further information, please visit www.chanticleerholdings.com
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Chanticleer Holdings, Inc.
Phone: 704.366.5122 x 1
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